NASDAQ: CSCO

CISCO SYSTEMS, INC.

CIK 0000858877 · SIC 3576 · Computer Communications Equipment

Mega Revenue $56.7B Assets $125.5B as of Aug 16, 2026

Cisco designs and sells a broad range of technologies that help to power, secure, and draw insights from the Internet. We are incorporating artificial intelligence (AI) into our product portfolios across networking, security, collaboration and observability as well as integrating our products more… About this business →

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8-K Filed Aug 12, 2026 · Period ending Aug 12, 2026

Cisco reports record Q4 revenue of $17.3B, up 18%, and raises FY2027 guidance on AI demand

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10-Q Filed May 19, 2026 · Period ending Apr 25, 2026

revenue $15.8B, net income $3.37B. Cisco Q3 revenue +12% on AI infrastructure; gross margin falls 200bp on memory costs

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8-K Filed May 13, 2026 · Period ending May 13, 2026

Cisco announces up to $1B restructuring to fund AI, security investments; Q3 FY2026 results filed

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8-K Filed May 1, 2026 · Period ending Apr 27, 2026

Cisco's Chief Accounting Officer Wong retiring; internal controller Fink promoted

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8-K Filed Apr 6, 2026 · Period ending Mar 31, 2026

Cisco appoints Peter Shimer to Board, replaces departing director Daniel Schulman

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10-Q Filed Feb 17, 2026 · Period ending Jan 24, 2026

Summary not yet generated.

10-K Filed Sep 3, 2025 · Period ending Jul 26, 2025

Summary not yet generated.

10-Q Filed May 20, 2025 · Period ending Apr 26, 2025

Summary not yet generated.

10-K Filed Sep 5, 2024 · Period ending Jul 27, 2024

Summary not yet generated.

Latest financial statements

From 10-Q filed May 19, 2026 (period ending Apr 25, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Consolidated Statements of Operations (Unaudited)

(in millions, except per-share amounts)

Description Three months ended April 25, 2026 Three months ended April 26, 2025 Nine months ended April 25, 2026 Nine months ended April 26, 2025
REVENUE:
Product 12,117 10,374 34,836 30,722
Services 3,724 3,775 11,237 11,259
Total revenue 15,841 14,149 46,073 41,981
COST OF SALES:
Product 4,613 3,688 12,752 10,927
Services 1,148 1,183 3,524 3,544
Total cost of sales 5,761 4,871 16,276 14,471
GROSS MARGIN 10,080 9,278 29,797 27,510
OPERATING EXPENSES:
Research and development 2,377 2,335 7,132 6,920
Sales and marketing 2,855 2,724 8,607 8,148
General and administrative 661 739 2,082 2,286
Amortization of purchased intangible assets 228 244 690 774
Restructuring and other charges (1) 34 182 709
Total operating expenses 6,120 6,076 18,693 18,837
OPERATING INCOME 3,960 3,202 11,104 8,673
Interest income 214 250 646 774
Interest expense (377) (403) (1,097) (1,225)
Other income (loss), net 242 (102) 423 (121)
Interest and other income (loss), net 79 (255) (28) (572)
INCOME BEFORE PROVISION FOR INCOME TAXES 4,039 2,947 11,076 8,101
Provision for income taxes 666 456 1,668 471
NET INCOME 3,373 2,491 9,408 7,630
Net income per share:
Basic 0.85 0.63 2.38 1.92
Diluted 0.85 0.62 2.36 1.91
Shares used in per-share calculation:
Basic 3,952 3,972 3,954 3,981
Diluted 3,982 4,002 3,987 4,004

Consolidated Balance Sheets (Unaudited)

(in millions, except par value)

Description April 25, 2026 July 26, 2025
ASSETS
Current assets:
Cash and cash equivalents 7,083 8,346
Investments 9,557 7,764
Accounts receivable, net of allowance of $73 at April 25, 2026 and $69 at July 26, 2025 6,480 6,701
Inventories 4,708 3,164
Financing receivables, net 2,936 3,061
Other current assets 5,795 5,950
Total current assets 36,559 34,986
Property and equipment, net 2,577 2,113
Financing receivables, net 3,642 3,466
Goodwill 59,292 59,136
Purchased intangible assets, net 7,850 9,175
Deferred tax assets 7,558 7,356
Other assets 8,068 6,059
TOTAL ASSETS 125,546 122,291
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt 11,932 5,232
Accounts payable 2,970 2,528
Income taxes payable 173 1,857
Accrued compensation 3,290 3,611
Deferred revenue 16,446 16,416
Other current liabilities 4,730 5,420
Total current liabilities 39,541 35,064
Long-term debt 19,371 22,861
Income taxes payable 2,304 2,165
Deferred revenue 12,153 12,363
Other long-term liabilities 3,316 2,995
Total liabilities 76,685 75,448
Commitments and contingencies (Note 14)
Equity:
Cisco stockholders’ equity:
Preferred stock, $0.001 par value: 5 shares authorized; none issued and outstanding
Common stock and additional paid-in capital, $0.001 par value: 20,000 shares authorized; 3,940 and 3,960 shares issued and outstanding at April 25, 2026 and July 26, 2025, respectively 48,950 47,747
Retained earnings 704 50
Accumulated other comprehensive loss (793) (954)
Total equity 48,861 46,843
TOTAL LIABILITIES AND EQUITY 125,546 122,291

Consolidated Statements of Cash Flows (Unaudited)

(in millions)

Description Nine months ended April 25, 2026 Nine months ended April 26, 2025
Cash flows from operating activities:
Net income 9,408 7,630
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other 1,902 2,176
Share-based compensation expense 2,903 2,693
Provision for receivables 11 17
Deferred income taxes (217) (792)
(Gains) losses on divestitures, investments and other, net (500) 52
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable 187 1,406
Inventories (1,549) 541
Financing receivables (34) 505
Other assets (602) (516)
Accounts payable 444 (10)
Income taxes, net (2,342) (2,002)
Accrued compensation (332) (431)
Deferred revenue (141) (524)
Other liabilities (347) (786)
Net cash provided by operating activities 8,791 9,959
Cash flows from investing activities:
Purchases of investments (7,367) (3,066)
Proceeds from sales of investments 1,884 2,228
Proceeds from maturities of investments 3,811 3,985
Acquisitions, net of cash and cash equivalents acquired and divestitures (46) (291)
Purchases of non-marketable equity securities (699) (265)
Return of investments in non-marketable equity securities 223 108
Acquisition of property and equipment (1,020) (688)
Other (6) (5)
Net cash provided by (used in) investing activities (3,220) 2,006
Cash flows from financing activities:
Issuances of common stock 354 320
Repurchases of common stock—repurchase program (4,605) (4,748)
Shares repurchased for tax withholdings on vesting of restricted stock units (1,362) (910)
Short-term borrowings, original maturities of 90 days or less, net 412 (479)
Issuances of debt 10,640 17,388
Repayments of debt (7,854) (18,545)
Dividends paid (4,894) (4,812)
Other (32) (80)
Net cash used in financing activities (7,341) (11,866)
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (57) (23)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (1,827) 76
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period 8,910 8,842
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period 7,083 8,918
Supplemental cash flow information:
Cash paid for interest 1,305 1,370
Cash paid for income taxes, net 4,228 3,265

Amounts as printed on the EDGAR/iXBRL face — (in millions, except per-share amounts); (in millions, except par value); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

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About CISCO SYSTEMS, INC.

Source: Item 1 (Business) from the 10-K filed September 3, 2025. Description as filed by the company with the SEC.

Item 1.Business

General

Cisco designs and sells a broad range of technologies that help to power, secure, and draw insights from the Internet. We are incorporating artificial intelligence (AI) into our product portfolios across networking, security, collaboration and observability as well as integrating our products more tightly together. We are simplifying how our technology is delivered, managed and optimized and helping customers maximize the business value of their technology investments.

We conduct our business globally and manage our business by geography. Our business is organized into the following three geographic segments: Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC).

Our products and technologies are grouped into the following categories: Networking, Security, Collaboration and Observability. In addition to our product offerings, we provide a broad range of services over the lifecycle of our products, including technical support services and advanced services. Our customers include businesses of all sizes, public institutions, governments, and service providers, including large webscale providers. These customers often look to us as a strategic partner to help them use information technology (IT) to differentiate themselves and drive positive business outcomes.

We were incorporated in California in 1984 and reincorporated in Delaware in 2021. Our headquarters are in San Jose, California. The mailing address of our headquarters is 170 West Tasman Drive, San Jose, California 95134-1706, and our telephone number at that location is (408) 526-4000. Our website is www.cisco.com. Through a link on the Investor Relations section of our website, we make available the following filings as soon as reasonably practicable after they are electronically filed with or furnished to the Securities and Exchange Commission (SEC) at sec.gov: our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act. All such filings are available free of charge. The information published on our website, or any other website referenced herein, is not incorporated into this report.

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Strategy and Priorities

In today's digital-first world, businesses and organizations globally are deploying technology to pursue their strategic objectives, from accelerating growth to enhancing operational efficiency and fostering innovation. Our strategy is to securely connect everything to make those desired outcomes possible.

Our customers have three key priorities in this dynamic environment: i) to build modern infrastructure; ii) to protect against the cyber threats of today and tomorrow; and iii) to harness the power of AI and data. Cisco is at the forefront of this evolution, developing innovative solutions that leverage advanced AI to deliver more valuable outcomes for our customers.

Modern Infrastructure

In an increasingly digital and connected world, where each new connection to the Internet puts more demand on the network, our customers are investing in resilient, adaptable infrastructure to quickly respond to market changes and the demands of their own customers. Now more than ever it is crucial for businesses to remain competitive while managing resource constraints. Our customers continue to focus on modernizing their infrastructure with a focus on speed, agility, productivity, innovation and energy efficiency.

Cybersecurity

With the rapid growth in AI, modern applications, hyper-distributed architecture and increasingly sophisticated cyberattacks, customers see cybersecurity as a top priority. Our differentiated security strategy is based on three pillars: moving from point solutions to a platform comprehensively integrated with the infrastructure; infusing security into the fabric of the network; and harnessing the depth and breadth of telemetry data from Cisco and with our acquisition of Splunk Inc. (“Splunk”) to prevent, detect, and respond to sophisticated attacks.

AI and Data

AI represents a generational shift in technology and the advent of AI agents is driving an order of magnitude higher requirement for network connectivity. We provide network infrastructure to power AI training and inference workloads for both webscale providers and enterprises. We help to scale our customers’ network infrastructure with high-density routers and switches, improved network management, and high-performance optics. We are reinventing data center operations for our customers by simplifying the configuration, monitoring, and maintenance of fabrics, compute, networking and storage.

We can help give customers visibility across the network, security solutions, applications and their own business data. With this breadth and scale of data, we can help deliver differentiated insights and context to customers, leading them to more informed proactive decisions and better business results.

These three customer priorities drive our innovation and technology, making them our priorities as well. To help deliver on them, we are bringing together the power of our portfolio, which we refer to as One Cisco, which provides three key outcomes to our customers: i) AI-ready data centers, ii) future-proofed workplaces, and iii) digital resilience.

AI-Ready Data Centers

We are transforming data centers to power AI workloads anywhere. Whether customers need to modernize parts of their existing infrastructure or power new, massive AI workloads, Cisco brings together a wide array of infrastructure (across networking, compute, storage, and silicon) with unified management across traditional and AI workloads, and security from on-premise to cloud to power AI-ready data centers.

Future-Proofed Workplaces

Cisco helps deliver "future-proofed" workplaces, modernizing how people and technology work and serve their customers. This includes environments ranging from factory floors with plant workers and robots to hospitals with healthcare workers, as well as to social workers and salespeople on the move. For secure campus and branch networking, we offer a flexible range of solutions that help ensure secure, reliable connections for users and devices. Our smart building technology turns network devices into sensors for enhanced intelligence and control of physical spaces. To support productivity, we provide collaboration devices and software to enable collaboration no matter where people work.

Digital Resilience

We help to keep the data center, workplace, and entire IT environment securely up and running in the face of any disruption. Our network assurance capabilities, powered by ThousandEyes, are integrated throughout our portfolio. This technology helps ensure seamless connectivity and optimal digital experiences across cloud, Internet, and enterprise networks, for the delivery of applications and services. Our observability solution monitors the entire enterprise to help prevent downtime and improve experiences across networks, infrastructures, and applications. Additionally, Cisco provides robust security measures for threat prevention, detection, investigation, and response for organizations of any size and security maturity.

Cisco enables enterprises and service providers to deliver highly secure connectivity from workplaces to data centers worldwide. Our strength lies in our ability to deliver unified architecture with integrated, end-to-end solutions to help simplify complex challenges. These capabilities are accelerated with Cisco AI, enhancing outcomes for customers globally.

For a discussion of the risks associated with our Strategy and Priorities, see “